Air France-KLM more than doubles profits in 2018 despite strikes

Tail fins of Air France and KLM planes. (Photo from the Air France-KLM website)

PARIS, France — Air France-KLM, which was badly hit last year by strikes and management upheaval, reported on Wednesday that its annual net profits rose by 150 percent to €409 million ($463 million).

“The strong performance of our front-line teams and continued cost control helped partly offset the impact of strikes at Air France in the first half of the year, as well as significant fuel headwinds,” Benjamin Smith, the company’s new chief executive, said in a statement.

ADVERTISEMENT

The Canadian businessman took over in September following Jean-Marc Janaillac’s sudden exit in a bitter dispute over salaries in the group’s French wing.

Fifteen days of strike cost the company €335 million ($379 million), Air France said.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.